The Bayer Group aims to significantly enhance its performance in the coming years and has set itself ambitious growth and margin targets through 2022.

"Following our transformation into a life science company with leading businesses in health and nutrition, we are strongly positioned to benefit from key megatrends," commented Werner Baumann, Chairman of the Board of Management of Bayer AG, on Wednesday at Bayer's Capital Markets Day in London. "We will create substantial value by leveraging our innovation capabilities into growth, improved profitability and a higher cash flow.

"The recently announced efficiency and structural measures will further support us in these endeavors. All of Bayer's divisions are expected to contribute to an improvement in Group performance through 2022 and beyond."

Bayer is targeting sales growth of approximately 4 percent next year and an annual average of 4 to 5 percent in the following years through 2022, based on constant foreign exchange rates. This corresponds to an increase in sales from an anticipated 44.6 billion euros (pro forma) in 2018 to around 46 billion euros in 2019 and to approximately 52 billion euros in 2022.

The target for EBITDA before special items is average annual growth of 9 percent, with an increase from an anticipated 11.5 billion euros (pro forma) in 2018 to around 12.2 billion euros in 2019 and to approximately 16 billion euros in 2022. The EBITDA margin before special items is expected to amount to about 26 percent in 2018 (pro forma), with a target of around 27 percent in 2019 and more than 30 percent in 2022.

As previously announced, Bayer is targeting an average annual increase for core earnings per share (core EPS) of around 10 percent. Core EPS is expected to amount to 5.70 to 5.90 euros in 2018 in line with previous guidance, with a target of around 6.80 euros in 2019 and approximately 10 euros in 2022.

The 2018 pro-forma figures are based on the assumption that the acquisition of Monsanto and the corresponding divestments - including financing measures - had already taken place as of January 1, 2018. The mid-term guidance takes into account the effects of the efficiency and structural measures announced on November 29.

Not included are the planned divestiture of Bayer's Animal Health business unit, the sale of Consumer Health brands Coppertone™ and Dr. Scholl's™, as well as the divestment of Bayer's 60-percent interest in the German site services provider Currenta.

All divisions to increase sales and enhance profitability

Crop Science sales are expected to increase by 4 percent in 2019, based on this year's expected pro-forma sales of 19.3 billion euros. Between 2019 and 2022, Bayer is targeting average annual sales growth of more than 4 percent at the division.

Crop Science's EBITDA margin before special items is expected to amount to approximately 23 percent in 2018, with a target of around 25 percent in 2019 and over 30 percent in 2022. This increase is based on expected pro-forma EBITDA before special items of 4.5 billion euros in 2018.

Crop Science will leverage its industry-leading market position and research and development (R&D) capabilities to deliver world class innovation that benefits farmers and society, harnessing digital innovation to provide tailored solutions.